Hedge funds sold off US cyclical stocks at the fastest rate seen so far this year last week, also kicking off their largest sell-off of US industrial stocks in more than 10 years, according to a report by Morningstar.
Hedge funds have increased their exposure to the so-called Magnificent Seven tech stocks to a record high on the back of Nvidia’s latest earnings report, which surpassed analyst expectations, according to a report by Bloomberg.
Engineers Gate, a New York-based quant firm founded nearly 10 years ago by Highbridge Capital co-founder Glenn Dubin which has more than $2bn in assets, is building out an office in Singapore, according to a report by Business Insider.
Nelson Peltz, the boss of activist hedge fund firm Trian Fund Management, has sold his entire stake in Walt Disney Co weeks after losing a proxy battle in April at the entertainment giant, according to a report by CNBC.
BlueFlame AI, a generative AI platform that enables alternative investment managers to search and analyse their data and workflows, has appointed Ed Chu, part of the founding team at quant hedge fund Kepos Capital, as Chief Technology Officer.
Digital asset investment products saw inflows of $1.05bn last week, the third consecutive positive week, taking cumulative YTD flows to a record $14.9bn, according to the latest Digital Assets Fund Flows Weekly Report from CoinShares.
Paul Meggyesi, a former JPMorgan managing director who has been ‘semi-retired’ since late 2022, has returned to full-time employment as a macro and FX strategist at hedge fund ExodusPoint Capital Management in London, according to a report by eFinancial Careers.
Gold futures rose 1% to $2,358 a troy ounce yesterday, making gains ahead of inflation data, as hedge funds ramped up their bullish bets on precious metals, ahead of the latest US inflation data, according to a report by Barron’s.
Jefferies Financial Group, the main creditor of hedge fund Weiss Multi-Strategy Advisers, which went bust in April after over 40 years of trading, says the fund should claw back about $30m that it paid employees just before filing for bankruptcy,
The California State Assembly is considering a bill requiring private equity firms and hedge funds to obtain consent from the state’s Attorney General prior to any change of control or acquisition of healthcare facilities or provider groups.
